Microsoft stock (NASDAQ: MSFT) is among the least-performing Magnificent 7 stocks, as it plunged more than 25% in a year. It fell from a 52-week high of $555 to a low of $356. MSFT is now hovering close to its 52-week low and opened Thursday’s trading session at $365. The stock has been on a steady decline since June 1 and is unable to hold on to its support level. Traders have been mostly staying away from MSFT, fearing a further slump in the charts.

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Should You Buy Microsoft Stock Now?

A handful of Wall Street analysts have given a buy rating for Microsoft stock this week. The word in the market is that MSFT could soon bottom out, never reaching this level again. The prediction comes as the Azure cloud platform is beating both guidance and street expectations. The company’s Cloud revenue hit $54.5 billion, up 29% year-over-year. The Cloud enterprise revenue is continuing to grow, and the number will reflect positively in the next earnings call.

At current prices, Microsoft stock trades at a trailing P/E of around 22x. This is well below the sector median of roughly 35x, and its price-to-operating cash flow sits at about 16x. It is also below the sector median of 18x. Therefore, Wall Street is largely on board, giving MSFT a buy rating at its current price level. For context, TipRanks, none of the analysts have given MSFT a sell rating despite the steep fall. The average price target is also $562 for Microsoft stock.

The confidence also came after Microsoft CEO Satya Nadella said in an interview that AI will not take all white-collar jobs. “You can’t say, hey, all white-collar jobs are gone, and this could even be a weapon,” he told WSJ. Accumulating Microsoft stock now or after a few dips could be beneficial for the long term.